Altea Deals with Lilly and Amylin Pharma
Altea Therapeutics has signed a deal with Eli Lilly and Amylin Pharmaceuticals to develop and commercialize a daily trans-dermal patch delivering exenatide. The patch would use Alteo trans-dermal delivery technology. Under terms of the deal, Atlanta-based Altea will receive an upfront license payment, an equity investment and up to $46 million in milestone payments. Altea previously raised around $56 million in VC funding from Domain Associates, Venrock, vSpring Capital, Aperture Venture Partners, KBC Private Equity, Rockport Venture Partners and Quilvest Private Equity.
2 April 2009•4 mins read
